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Full-Text Articles in Law
Megafirms, Randall S. Thomas, Stewart J. Schwab, Robert G. Hansen
Megafirms, Randall S. Thomas, Stewart J. Schwab, Robert G. Hansen
Cornell Law Faculty Publications
This Article documents and explains the amazing growth of the largest firms in law, accounting, and investment banking. Scholars to date have used various supply-side theories to explain this growth, and have generally examined only one industry at a time. This Article emphasizes a demand-side explanation of firm growth and shows how the explanation is similar for firms in all "project" industries. Legal regulation also plays an important role in determining industry structure. Among the areas covered in this Article are the growth of Multidisciplinary Practice firms (MDPs). MDP growth can best be understood by looking more broadly at the …
Multi-Disciplinary Professional Practices: A Consumer Welfare Perspective, Michael Trebilcock, Lila Csorgo
Multi-Disciplinary Professional Practices: A Consumer Welfare Perspective, Michael Trebilcock, Lila Csorgo
Dalhousie Law Journal
Multi-disciplinary professional practices (MDPs) involving lawyers, accountants and otherprofessionals, have been the subject of considerable industrystudyand controversy in Canada and abroad. In this article, the authors evaluate the advantages and disadvantages of MDPs strictly from a consumer welfare perspective. They argue that, although MDP critics' concerns surrounding such issues as solicitor-client privilege, independence, conflicts of interest, and unauthorized practice are valid, they are often overstated and are, in many cases, encountered even today by professionals outside the MDP context. The advantages to consumers of permitting the evolution of such practices would, in any event, significantly outweigh such disadvantages. The authors'analysis …